FHA Urgent Question

[CaliforniaSD]

The AMC wants me to change the name of the "client" (intended user) after I already completed the inspection. I have never come across this before and I'm not sure if I am allowed to do this. I appreciate your help. Thanks!

 

[Tom4value]

You can as long as you look at it the right way. You are not "changing" anything. This is a new assignment. Build and keep a file for the previous client (noting the LOE did not specify that you can't perform another appraisal for anyone else), build a new file for the new client and make sure that the new client/assignment has a new FHA case number.

 

[CaliforniaSD]

You can as long as you look at it the right way. You are not "changing" anything. This is a new assignment. Build and keep a file for the previous client (noting the LOE did not specify that you can't perform another appraisal for anyone else), build a new file for the new client and make sure that the new client/assignment has a new FHA case number.

Thank you for the guidance. I have a follow-up question, so the new client/assignment has to have a new FHA case number? Sorry for the dumb question, I'm just not familiar with the entire FHA case number process. Should I call the FHA telephone number and ask them to make sure?

Also, I had one more question since you are well versed in FHA. The subject structure does not appear to have any termite damage. However, the shed and the covered porch attached to the back of the detached garage appears to may have termite damage. I found a fumigation warning during the inspection that stated it was fumigated a couple months ago, the listing agent told me a buyer that backed out requested the fumigation. The agent does not have a clearance, should I make the appraisal subject to termite clearance? Thanks for your help Tom4value!

 

[JeffSH]

Change the name of the client or the lender? Why is the client different? If you meant change the lender, then a new assignment is always needed. The work you did previously was between you and the prior lender. It's confidential.

 

[JeffSH]

Also, I had one more question since you are well versed in FHA. The subject structure does not appear to have any termite damage. However, the shed and the covered porch attached to the back of the detached garage appears to may have termite damage. I found a fumigation warning during the inspection that stated it was fumigated a couple months ago, the listing agent told me a buyer that backed out requested the fumigation. The agent does not have a clearance, should I make the appraisal subject to termite clearance? Thanks for your help Tom4value!

Don't call for inspection. Note that there are no signs of current termite damage and that the property was fumigated recently. Just explain everything and let the lender decide. It's on them anyway.

 

[CaliforniaSD]

Change the name of the client or the lender? Why is the client different? If you meant change the lender, then a new assignment is always needed. The work you did previously was between you and the prior lender. It's confidential.

Change the name of the lender. The AMC calls the lender the client, hence the the quotations marks. The AMC is the client and the indented user is the lender. The AMC is asking me to change the lender post effective date of inspection. I am pretty sure that this is not allowed. I just don't know how to proceed. Should I ask the AMC for a new letter of engagement with a new lender listed? Do I have to change the effective date when the AMC sends me a new LOE? Do I have to reinspect the property? I'm just not sure what I am supposed to do.

Than you for the termite guidance!

 

[JeffSH]

Change the name of the lender. The AMC calls the lender the client, hence the the quotations marks. The AMC is the client and the indented user is the lender. The AMC is asking me to change the lender post effective date of inspection. I am pretty sure that this is not allowed. I just don't know how to proceed. Should I ask the AMC for a new letter of engagement with a new lender listed? Do I have to change the effective date when the AMC sends me a new LOE? Do I have to reinspect the property? I'm just not sure what I am supposed to do.

Than you for the termite guidance!

Yes. New lender means new assignment every time. The inspection you did for the other lender is confidential information.

 

[CaliforniaSD]

Yes. New lender means new assignment every time. The inspection you did for the other lender is confidential information.

Great, that is what I thought, I knew those USPAP classes were going to come in handy. Now, do I tell the AMC that I need to set up a new inspection with a new effective date? Thanks!

 

[JeffSH]

Great, that is what I thought, I knew those USPAP classes were going to come in handy. Now, do I tell the AMC that I need to set up a new inspection with a new effective date? Thanks!

New lender means new assignment and new workfile. They should close out the current order and pay you a trip fee, then open a new order for the new appraisal. I offer discounts in these situations.

 

[CaliforniaSD]

New lender means new assignment, new engagement letter, new loan number, etc. They should close out the current order and pay you a trip fee, then open a new order for the new appraisal. I offer discounts in these situations.

Awesome, you have been extremely helpful. Thanks for helping this Freshman out, I am grateful that you provide guidance to people in need. You rock!